Stock Market Opening February 7: Indices Open In Green; Sensex At 72,503.52 & Nifty Above 22,000

The markets opened higher on Wednesday with Sensex at 72,503.52, up by 317.43 points, and Nifty at 22,045.45, up by 116.05 points.

Nifty Bank in the morning session was trading higher at 45,999.60, up by 308.80 points or 0.68 per cent

From the Sensex pack, Tata Steel, NTPC, HDFC Bank, LT, and JSW Steel were among the major gainers in the morning session whereas PowerGrid and Maruti were among the laggards.

Earnings

Tata consumer products, PowerGrid, JK papers, Kalpatru projects, Nestle India, Lupin, Apollo tyres, Manappuram Finance, Cummins India, Borosil renewables , Trent, Sobha, Shalby, Parag Milk products, were among the others scheduled to announce their quarterly earnings today.

Market on Tuesday

The indices on Tuesday closed on a positive note. The 30-share BSE Sensex closed at 72,186.09, up by 454.67 points or 0.63 per cent. Meanwhile, the NSE Nifty ended the day at 21,939.15, up 167.45 or 0.77 per cent. Nifty Bank fell 44.20 points or 0.10 per cent at 45,781.35.

Global Markets

The US markets on Tuesday, February 6 ended on a positive note. The Dow Jones Industrial Average went up by 141.24 points, which is a 0.37 per cent increase, reaching 38,521.36. The S&P 500 also rose by 11.42 points, or 0.23 per cent, reaching 4,954.23, and the Nasdaq Composite increased by 11.32 points, or 0.07 per cent, finishing at 15,609.00

On Wednesday, February 7, Asian markets were trading higher: Japan's Nikkei 225 went down by 69.17points, reaching 36,091.49; Hong Kong's Hang Seng rose 257.20 points, trading at 16,394.07, and South Korea's KOSPI up by 40.58 points, reaching 2,616.78.

Oil prices

The oil prices were trading higher on Wednesday. Brent crude futures went up by 38 cents, or 0.5per cent, reaching USD 78.97 per barrel. At the same time, U.S. West Texas Intermediate crude increased by 41 cents, or 0.6 per cent, reaching USD 73.72 per barrel.